Gold Rates In India Creates History: Festive Season Drives 24K, 22K, 18K Gold Prices; September 30 Outlook

Gold rates in India have created a new history, by touching new highs. On September 30th, 24 carat of 10 gram crossed Rs 1,16,000 mark for the first time, while 100 grams gold price is now higher above Rs 11,60,000. The winning streak in gold rates has continued for four consecutive day now, amidst festive seasonal demand. Not just that, silver rates are also at new peak, with 1Kg price crossing Rs 1,50,000 mark. Notably, silver beats gold prices record rally in September so far.

On the last day of September, the outlook for precious metals remained bullish. The upcoming key data such as US non-farm payrolls, ADP employment and RBI policy on October 1st, will drive the sentiment apart from the last few days of Navratri.

Gold Rates In India:

Gold prices are at new highs in India. 10 grams is at the highest peak of Rs 1,16,400, at Rs 1,06,700 in 22 carat and at Rs 87,300 in 22 carat.

Meanwhile, 100 grams gold prices newest fresh high is at Rs 11,64,000 in 24 carat, at Rs 10,67,000 in 22 carat and at Rs 8,73,000 in 18 carat.

The price of cheapest gold in India is currently at Rs 11,641 per gram for 24 karat gold, at Rs 10,671 per gram for 22 karat gold and at Rs 8,731 per gram for 18 karat gold (also called 999 gold).

100 grams gold rate in 24 carat had climbed by Rs 9,200 on September 29th. The prices were unchanged on September 28th, after rising by Rs 6,000 on September 27th and up by Rs 4,400 on September 26th.

From September 26th to September 29th, 100 grams gold price zoomed by Rs 19,600 in 24 carat. 10 grams gold is up by Rs 1,960 in these days.

Silver Rates In India:

Silver rates in India are at new record high to Rs 1,50,100 per 1kg, followed by 100 grams and 10 grams silver at Rs 15,010 and Rs 1,501 respectively.

Overall in September, silver prices have skyrocketed by over 19.1%, outperforming gold which rose by 10%.

MCX Gold Price + MCX Silver Price:

Meanwhile, MCX gold price touched a new all-time high of Rs 1,16,497 per 10 grams on September 29th. This bullion was for December 2025 expiry. After the market hours, the price closed near the record high to Rs 1,16,370 per 10 grams, up by Rs 26.

Additionally, MCX silver price with December 2025 expiry, touched a new high of Rs 1,44,179 per 1kg before ending at Rs 1,43,120 per 1kg, up by Rs 21 after closing bell on Monday.

"The rally was supported by the US PCE Price Index coming in line last Friday, fueling expectations of another Fed rate cut in the upcoming meet," said Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.

Gold & Silver Prices Outlook On September 30:

According to Trivedi, the outlook remains bullish with a trading range of Rs 1,13,500-Rs 1,16,500. Key focus this week will be on US Nonfarm Payrolls, ADP employment data, and RBI's policy announcement on October 1, 2025.

Furthermore, Darshan Desai, CEO - Aspect Bullion & Refinery said, despite a stronger U.S. Dollar, expectations of further interest rate cuts by the Federal Reserve, concerns over central bank independence, and continued central bank and ETF demand are supporting elevated prices. Any dip in prices is likely to attract renewed buying interest.

Additionally, Sourav Choudhary, Managing Director - Raghunath Capital said, "Gold's 60% rally since January 2024 is impressive, but silver is where the real upside lies. Historically, when gold runs, silver goes ballistic. With the gold-to-silver ratio stretched at 87:1 versus its 63:1 average, silver is poised for an explosive breakout. A simple mean reversion signals 40%+ gains, but if momentum drives an overshoot-as it often does-silver could easily multiply fourfold from here."

Spot Gold Price + Spot Silver Price

Spot Gold prices climbed above $3,800 an ounce for the first time ever on Monday, driven by a weaker dollar and growing expectations of further US rate cuts, as per Trading Economics. Further, Spot Silver rose more than 1% to above $46.5 per ounce on Monday, reaching a new 14-year peak as the dollar weakened amid rising risks of a US government shutdown. Investors also traded cautiously ahead of key US data this week that could shape the Federal Reserve's policy outlook.

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